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In California, you can deposit $35,000 with the state in lieu of carrying liability insurance - not that it's a wise thing to do, however. If someone gets hurt badly enough to need intensive care, you will EASILY blow through that amount and owe a lot more.
In terms of covering the car itself, that's just having enough to buy another car like it
In California, you can deposit $35,000 with the state in lieu of carrying liability insurance - not that it's a wise thing to do, however. If someone gets hurt badly enough to need intensive care, you will EASILY blow through that amount and owe a lot more.
In terms of covering the car itself, that's just having enough to buy another car like it
Also it's not even close to worth it. You could invest the $35,000 in something stupidly conservative. 30-year treasuries, for example, pay 3% right now. That's almost as much as I pay for full coverage with 1000k/500k policy limits.
Also it's not even close to worth it. You could invest the $35,000 in something stupidly conservative. 30-year treasuries, for example, pay 3% right now. That's almost as much as I pay for full coverage with 1000k/500k policy limits.
"You must spread some reputation around before giving it to Pitt Chick again."
What difference does it make anyway, OP? As much as I truly hate all things insurance, car insurance is really worth the investment and besides, if you don't happen to live in the cheapest state to self insure your car, how does having this knowledge benefit you? Just paying for car insurance can really save your behind, especially if you're into this new pastime called texting and driving.
"You must spread some reputation around before giving it to Pitt Chick again."
What difference does it make anyway, OP? As much as I truly hate all things insurance, car insurance is really worth the investment and besides, if you don't happen to live in the cheapest state to self insure your car, how does having this knowledge benefit you? Just paying for car insurance can really save your behind, especially if you're into this new pastime called texting and driving.
My hometown has one of the country's most expensive car insurance rates in the country. Here, car insurance is not really worth it for a safe driver like me. It would be much more cost effective here to just self-insure and save up the money than to buy car insure.
My home state just requires having $40k on hand after deducting all debts.
I just wanted to know for my own curiosity's sake what other states require as a comparison to my home state if I ever wanted to move in the future.
My hometown has one of the country's most expensive car insurance rates in the country. Here, car insurance is not really worth it for a safe driver like me. It would be much more cost effective here to just self-insure and save up the money than to buy car insure.
My home state just requires having $40k on hand after deducting all debts.
I just wanted to know for my own curiosity's sake what other states require as a comparison to my home state if I ever wanted to move in the future.
You can't afford to self-insure and be financially secure. A bad wreck with high medical bills will bankrupt you, as has already been pointed out. How lucky do you feel?.
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